Arconic Grants CEO John C. Plant and COO Elmer L. Doty Inducement Awards Pursuant to NYSE RULE 303A.08
February 15 2019 - 4:30PM
Business Wire
Arconic Inc. (NYSE: ARNC) announced that it today granted an
award of 1,000,000 restricted stock units to new Chief Executive
Officer John C. Plant, pursuant to its letter agreement with Mr.
Plant, dated February 13, 2019, as well as an award of 385,000
restricted stock units to new Chief Operating Officer
Elmer L. Doty, pursuant to its letter agreement with Mr.
Doty, dated February 15, 2019. The restricted stock unit award
granted to Mr. Plant will vest on February 6, 2020, contingent on
his continued service as Chief Executive Officer, subject to
prorated or full accelerated vesting upon the occurrence of certain
events, and the restricted stock unit award granted to Mr. Doty
will vest ratably over a two-year period, contingent on his
continued service as Chief Operating Officer, subject to prorated
or full accelerated vesting upon the occurrence of certain
events.
The awards were granted in reliance on the employment inducement
exemption under the NYSE’s Listed Company Manual Rule 303A.08,
which requires public announcement of inducement awards. Pursuant
to the requirements of that rule, Arconic is issuing this press
release.
About Arconic
Arconic (NYSE: ARNC) creates breakthrough products that shape
industries. Working in close partnership with our customers, we
solve complex engineering challenges to transform the way we fly,
drive, build and power. Through the ingenuity of our people and
cutting-edge advanced manufacturing techniques, we deliver these
products at a quality and efficiency that ensure customer success
and shareholder value. For more information: www.arconic.com.
Follow Arconic:
Twitter, Instagram, Facebook, LinkedIn and YouTube.
Forward-Looking Statements
This release contains statements that relate to future events
and expectations and as such constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include those containing such
words as “anticipates,” “believes,” “could,” “estimates,”
“expects,” “forecasts,” “goal,” “guidance,” “intends,” “may,”
“outlook,” “plans,” “projects,” “seeks,” “sees,” “should,”
“targets,” “will,” “would,” or other words of similar meaning. All
statements that reflect Arconic’s expectations, assumptions or
projections about the future, other than statements of historical
fact, are forward-looking statements, including, without
limitation, statements and guidance regarding future financial
results or operating performance; statements about Arconic's
strategies, outlook, business and financial prospects; and
statements regarding the strategy and portfolio review. These
statements reflect beliefs and assumptions that are based on
Arconic’s perception of historical trends, current conditions and
expected future developments, as well as other factors Arconic
believes are appropriate in the circumstances. Forward-looking
statements are not guarantees of future performance and are subject
to risks, uncertainties and changes in circumstances that are
difficult to predict, which could cause actual results to differ
materially from those indicated by these statements. Such risks and
uncertainties include, but are not limited to: (a) deterioration in
global economic and financial market conditions generally; (b)
unfavorable changes in the markets served by Arconic; (c) the
inability to achieve the level of revenue growth, cash generation,
cost savings, improvement in profitability and margins, fiscal
discipline, or strengthening of competitiveness and operations
anticipated or targeted; (d) competition from new product
offerings, disruptive technologies or other developments; (e)
political, economic, and regulatory risks relating to Arconic’s
global operations, including compliance with U.S. and foreign trade
and tax laws, sanctions, embargoes and other regulations; (f)
manufacturing difficulties or other issues that impact product
performance, quality or safety; (g) Arconic’s inability to realize
expected benefits, in each case as planned and by targeted
completion dates, from acquisitions, divestitures, facility
closures, curtailments, expansions, or joint ventures; (h) the
impact of cyber attacks and potential information technology or
data security breaches; (i) changes in discount rates or investment
returns on pension assets; (j) the impact of changes in aluminum
prices and foreign currency exchange rates on costs and results;
(k) the outcome of contingencies, including legal proceedings,
government or regulatory investigations, and environmental
remediation, which can expose Arconic to substantial costs and
liabilities; and (l) the other risk factors summarized in Arconic’s
Form 10-K for the year ended December 31, 2017 and other reports
filed with the U.S. Securities and Exchange Commission (SEC).
Market projections are subject to the risks discussed above and
other risks in the market. The statements in this release are made
as of the date of this release, even if subsequently made available
by Arconic on its website or otherwise. Arconic disclaims any
intention or obligation to update publicly any forward-looking
statements, whether in response to new information, future events,
or otherwise, except as required by applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190215005562/en/
Media ContactsEsra OzerArconic1-212-836-2641
Arconic (NYSE:ARNC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Arconic (NYSE:ARNC)
Historical Stock Chart
From Apr 2023 to Apr 2024